09-11-1989 - Agenda Packet City Council - regular meeting

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AM 1 OFFICIAL NOTICE OF BOND SALE $2,300;000 GENERAL OBLIGATION WATER AND SEWER REVENUE BONDS, SERIES 1989 CITY OF ORONO HENNEPIN COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN That these bonds will be offered for sale according to the following terms: TIME AND PLACE: Bids will be received by the City at the offices of Ehlers and Associates, Inc., 2950 Norwest Center, Minneapolis, Minnesota, until 11:00 o'clock a.m. on Monday, September 11, 1989. The City Council will meet at 7:00 o'clock p.m. on the same day at the City Hall, Orono, Minnesota, to consider the bids and award the sale. TYPE OF BOND: Fully registered general obligations in the denomination of $5,U00 or any integral multiple thereof up to the amount of any single maturity as specified by the purchaser. PURPOSE: Constructing ✓arious water and sewer improvements pursuant to Section 444.075 and Chapter 429, Minnesota Statutes. DATE OF BONDS: Sept. er 16, 1989. INTEREST PAYMENTS: AugUF' 1, 1990.and semiannually thereafter on February 1 and August 1 of each year. MATURITIES: February 1 in the amounts and each of the years as follows: $175,000 in 1993, $1.75,000 in 1994, $200,000 in 1995, $200,000 in 1996, $225,000 in 1997, $225,000 in 1998, $250,000 in 1999, $275,000 in 2000, $275,000 in 2001, $300,000 in 2002 REDEMPTION: All bonds maturing .)n or after February 1, 1997, arN subject to redemption and prior payment in whole or in part in inverse order of maturity, and by lot within a maturity, at th- opt, n of the City on February 1, 1996 and any interest payment date thereafter and accrued interest. REGISTRAR, ?RA.NSFER AG, PAYING AGENT: The initial Registrar, Transfer Agent and Paring Agent M elected by the City at she time of sale and the City will reserve the rigut -ct such successor agents as the City may hereafter designate by noticr. t( tP tered owners of bonds not leas than 60 days prior to any change. Ini-eresL i be paid by check or draft mailed to registered owners of bonds as shown b) _he registration books of the Citv on the 15th day of ti.e month preceding earh interest payment date. The 1-vnds will be transferable only upon the registration hooks of the City kept by the Registrar.